Judge Rejects Class Certification In Lawsuit Over Mt. Gox Hack
In the latest legal development around victim attempts to recover funds from bitcoin exchange Mt. Gox, a judge denied class certification.In the latest legal development around the 2014 hack of Mt. Gox, perhaps the most notorious bitcoin exchange event in history, a federal judge in the U.S. has rejected a bid for class certification from victims.“An Illinois federal judge … rejected a bid for class certification from customers of defunct Japanese bitcoin exchange Mt. Gox, saying it’s not reasonable to conclude that 30,000 putative class members shared the lead plaintiff’s interpretations....
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The move awards another victory to former Mt. Gox CEO Mark Karpeles. A federal judge has rejected a bid for class certification from clients of the defunct Japanese Bitcoin exchange Mt. Gox, which was forced into bankruptcy in 2014 following a major hack.Judge Gary Feinerman made the declaration in the U.S. District Court for the Northern District of Illinois on Tuesday, June 22 saying it would require 30,000 "mini-trials” to find otherwise.The move handed a victory to former Mt. Gox CEO Mark Karpeles, who has argued that a compensation plan in Japan would serve better than litigation in....
A Florida judge has certified a class action lawsuit filed on behalf of customers of the now-defunct digital currency exchange Cryptsy. In an order issued yesterday, US District Judge Kenneth Marra approved a request by plaintiffs for class action certification, originally filed on 27th July. According to the order, the certification covers all Cryptsy account holders as of 1st November, 2015. Specifically, it includes anyone "who held bitcoins, alternative cryptocurrencies or any other form of monies or currency" prior to that date on the exchange. The lawsuit dates back to....
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A 2014 class action lawsuit by plaintiffs in Canada against defunct bitcoin exchange Mt. Gox has been dismissed. The law firm representing Canadian plaintiffs in the class action against Mt. Gox, a now-defunct bitcoin exchange has revealed that the case will be dismissed. The class action lawsuit was originally brought to the Ontario Superior Court of Justice against MtGox Inc., Mt. Gox KK, Tibanne KK, Mt. Gox North America Inc., Mizuho Bank, Ltd., Mark Karpeles (CEO) and Jed Mccaleb (founder). The case sought $465 million ($500 million CAD) in compensation for Canadians who placed their....
A US Court has dismissed the appeal filed by Mizuho Bank against Mt Gox customers' class action lawsuit. Mizuho Bank recently found itself in a legal trouble after its association with defunct Bitcoin exchange Mt. Gox was recognized by a US court. The bank’s name surfaced in the notorious Bitcoin theft case when some of its victims claimed that their withdrawal requests was denied by the Japanese bank. The Mt. Gox victims, on the grounds of denial of rightful requests by Mizuho, later filed a class action lawsuit against the bank. According to the lawsuit, Mizuho Bank intentionally wreaked....